CUSTOMER STATES HE TOLD HIS FC THAT HE DID NOT WANT HIS PRINCIPAL AT RISK AND SUBSEQUENTLY INVESTED IN THE ING SENIOR INCOME FUND WHICH RESULTED IN LOSSES TO HIS ACCOUNT. HE IS ASKING WFI TO REIMBURSE HIM. DATES OF ALLEGED ACTIVITIES: JUNE 13, 2007 - SEPTEMBER 24, 2008.

$139,000.00

IN RESPONSE TO CLAIMS MADE BY THE CLIENT: IN MY MEETINGS WITH THE CLIENT WHICH HE STATES TOOK PLACE TOWARD THE END OF APRIL 2007 WE TALKED ABOUT HIS CASH AT ML. HE ASKED IF WE HAD ANYTHING BETTER TO OFFER ON THE BANK SIDE. AFTER DISCUSSING RATES AND FDIC LIMITS OF THE DIFFERENT BANK PRODUCTS WE OFFERED THROUGH WELLS FARGO BANK WE DETERMINED THE BANK SIDE DID NOT HAVE ANYTHING COMPETITIVE ENOUGH. I THEN MENTIONED TO THE CLIENT THAT WE HAD PRODUCTS ON THE INVESTMENT SIDE THAT HE MIGHT BE INTERESTED IN. THE CLIENT STATES IN HIS LETTER TO THE REGIONAL SALES MANAGER THAT NO PAPERWORK OR DISCLOSURES CONCERNING THE INVESTMENTS WERE GIVEN. WHILE THE CLIENT STATES THAT NO DOCUMENTS OR DISCLOSURES HAD BEEN GIVEN I HAD GIVEN THE CLIENT THE ING BROCHURE PRIOR THE TO MEETING WITH THE SENIOR FINANCIAL CONSULTANT AND THEN AGAIN IN THE JOINT MEETING WITH THE CLIENT, THE FINANCIAL CONSULTANT AND MYSELF THE FINANCIAL CONSULTANT GAVE THE CLIENT THE ING PACKET THAT INCLUDED THE PROSPECTUS. NEVER WAS PRINCIPAL STATED TO BE PROTECTED OR GUARANTEED. ON SEPT. 24, 2008 THE CLIENT SUBMITTED A LETTER HE WROTE TO THE FINANCIAL CONSULTANT AFTER THE VALUE OF ING WENT DOWN AND AFTER HE STATED TO US THAT HE HAD READ THAT PEOPLE WERE GETTING REIMBURSED FOR INVESTMENTS MADE IN FUNDS THAT WERE CONSIDERED LOW RISK. HE CLAIMS THAT I SAID I DID NOT KNOW THE NAV COULD DROP ON THE ING FUND. I DID NOT EVER STATE THAT THE FUND WAS PRINCIPAL PROTECTED. INITIAL CONVERSATIONS ABOUT INVESTMENTS INCLUDED DISCLOSERS BOTH WRITTEN AND VERBAL ABOUT THE FACT THAT INVESTMENTS WERE NOT PRINCIPAL PROTECTED AND COULD LOSE VALUE. IN RESPONSE TO MY EXPRESSING REGRET OVER ING, I DID STATE THAT I REGRETTED THE FACT THAT IT HAD DROPPED IN VALUE HOWEVER AT THE TIME OF SALE ING WAS CONSIDERED TO BE A LOW RISK INVESTMENT.